Friday 20 September 2019

Cairn Homes secures green light for another 459 homes in west Dublin


Michael Stanley, CEO of Cairn Homes
Michael Stanley, CEO of Cairn Homes

Michael Cogley

One of the country's largest developers, Cairn Homes, has been given the go-ahead to build more than 450 new homes on the outskirts of Dublin.

Cairn has proposed a strategic housing development along Fortunestown Lane, near Citywest Business Park. The Luas Red Line runs alongside the 18-acre site, which remains vacant.

The Irish and London-listed developer plans to build 459 units, made up of 336 apartments and 123 houses. The apartments comprise 30 studio units, 88 one-beds, 189 two-beds, and 29 three-beds. The remaining houses will be made up of three and four-bed variations. A creche and community room will also be built.

The Cooldown Commons site is one of 17 developments in Cairn's pipeline. Last month, Cairn was given the go-ahead to build a further 420 units in nearby Newcastle in south-west Dublin.

Cairn, headed by CEO Michael Stanley, originally applied to build 230 units on the Cooldown site but pulled its original application.

Cairn received planning permission after using the "fast track" system with An Bord Pleanala, which is reserved for developments of 100 units or more. The system, introduced by housing minister Eoghan Murphy last year, allows large-scale developments to go straight to the board.

The increased output follows a similar move by the developer at the former RTE site in Montrose where it increased its original plans by 22pc, or 113 units.

The developer has lodged planning documents with the board, signalling its intention to build 619 apartments and three townhouses on the site it purchased from RTÉ for €107.5m in 2017. It is higher than the 550-600 units that it told investors last month it would build on the site which was sold at 43pc above the guide price of €75m.

Sunday Indo Business

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